Ripple XRP up, buoyed by a $25 million transaction on its chain

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Recap of the Top Five Cryptos

Since the previous day, the five most-watched cryptos (Bitcoin, Bitcoin Cash, Litecoin, Ethereum, and Ripple) provided their holders with a return of -0.09%. Out of the aforementioned five, XRP gave investors the best daily return; it was up 1.66%, which has its price now near $0.255509 USD. As for the worst-performing crypto out of the Big Five, yesterday that was Litecoin; it came in at down 2.56%, which drove its price to around $63.373865 USD. Out of the five coins observed here, two cryptocurrencies were up — which is a mixed sign for the crypto sector as a whole.

Price Patterns to Monitor

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Yesterday was a fairly normal day for all of these cryptocurrencies, in the sense that they fluctuated within the normal daily range we have come to suspect them to move within. Traders may also wish to bear in mind the following events going on regarding current price patterns:

  • XRP has no clear trend. Perhaps one for trend following traders to avoid.
  • If coins in a clear downtrend are your thing, consider Litecoin, Bitcoin, Bitcoin Cash, and Ethereum. Those have been in a clear downtrend over the past 14 days, and thus might be of interest to trend followers comfortable with short selling.

Insights From Transaction Data

The blockchain that saw the most transactions recorded on its blockchain over the past day was Ripple; its 786,028 transfers added was about 14% greater than the transactions recorded on Ethereum, which was the runner up for transactions logged on its chain over the past 24 hours. Ripple has a transaction fee less than the transaction fee of Ethereum, which may indicate that transaction fees might be a key reason why users are preferring Ripple. Ripple was the coin with the largest transaction across all blockchains yesterday; the largest transaction on its chain was valued at $25,724,000,000 US dollars.

Article by SixJupiter